Holocene Advisors LP Has $2.93 Million Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Holocene Advisors LP boosted its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 367.9% during the third quarter, Holdings Channel reports. The institutional investor owned 79,084 shares of the bank’s stock after purchasing an additional 62,183 shares during the quarter. Holocene Advisors LP’s holdings in First Financial Bankshares were worth $2,927,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC grew its stake in shares of First Financial Bankshares by 480.0% during the 2nd quarter. SG Americas Securities LLC now owns 39,602 shares of the bank’s stock worth $1,169,000 after acquiring an additional 32,774 shares in the last quarter. Diversified Trust Co grew its position in First Financial Bankshares by 3.0% in the second quarter. Diversified Trust Co now owns 29,297 shares of the bank’s stock valued at $865,000 after purchasing an additional 865 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in First Financial Bankshares by 6.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 17,537 shares of the bank’s stock valued at $518,000 after buying an additional 1,050 shares during the last quarter. Blue Trust Inc. lifted its position in First Financial Bankshares by 6.3% during the 2nd quarter. Blue Trust Inc. now owns 27,067 shares of the bank’s stock worth $888,000 after buying an additional 1,597 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in shares of First Financial Bankshares by 17.4% during the 2nd quarter. Raymond James & Associates now owns 78,896 shares of the bank’s stock worth $2,330,000 after buying an additional 11,701 shares during the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FFIN shares. Keefe, Bruyette & Woods lifted their target price on First Financial Bankshares from $36.00 to $40.00 and gave the company a “market perform” rating in a research report on Wednesday. Hovde Group raised their price target on First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Truist Financial upped their price objective on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Finally, Stephens raised their target price on shares of First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th.

First Financial Bankshares Stock Performance

Shares of NASDAQ:FFIN opened at $40.94 on Friday. The company has a 50-day simple moving average of $38.93 and a 200 day simple moving average of $35.19. The company has a market capitalization of $5.85 billion, a P/E ratio of 28.23 and a beta of 0.81. First Financial Bankshares, Inc. has a 52-week low of $26.54 and a 52-week high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings data on Thursday, October 17th. The bank reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. The company had revenue of $142.10 million during the quarter, compared to analysts’ expectations of $140.25 million. First Financial Bankshares had a return on equity of 13.43% and a net margin of 28.76%. As a group, equities analysts forecast that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a $0.18 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 1.76%. First Financial Bankshares’s dividend payout ratio is currently 49.66%.

Insider Activity

In other news, Director Michael B. Denny sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $41.12, for a total value of $287,840.00. Following the transaction, the director now owns 101,085 shares of the company’s stock, valued at approximately $4,156,615.20. This represents a 6.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.22% of the company’s stock.

About First Financial Bankshares

First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company offers checking, savings and time deposits; automated teller machines, drive-in, and night deposit services; safe deposit facilities, remote deposit capture, internet banking, mobile banking, payroll cards, funds transfer, and performing other customary commercial banking services; securities brokerage services; and trust and wealth management services, including wealth management, estates administration, oil and gas management, testamentary trusts, revocable and irrevocable trusts, and agency accounts.